The world of business has shifted quite a bit in the last year and it’s no wonder! The pandemic has changed a lot of things for many different industries, and keeping up with these changes isn’t always the easiest. The financial markets have been rocked and the companies dying for a cash injection are struggling: no one is lending! Along with all of the financial issues that are hitting businesses, we also have the issues surrounding talent retention in business.
You have hired a bank of people from a range of different disciplines, and given that you’ve been through the hiring process and have taken them on, it makes sense that you would want to hang onto the talent you’ve paid good money for. To be able to better retain your staff, you need to come up with a few perks to keep them on board and prevent them from changing their mind about your company and leaving! It’s all about being profitable, and for that to happen you need happy staff. Happy people equal loyalty and a low staff turnover. The happier they are, the better they work. So, with this in mind, let’s check out some of the lucrative perks that you should be offering your team to keep them on board and make your business better.
- Remote working opportunities. I know – you’ve just had an entire year of people in your business working from home. The last thing that you want right now is more time out of the office and in the house! The thing is, your business has survived with people working from home. If your staff are getting their tasks done, does it really matter about timing? Unless you absolutely need your people in the office, the best thing that you can do for them is to make them feel good by allowing them to skip that commute and work from home for a couple of days per week. You won’t lose any money as a business, and you can ensure that your staff aren’t missing out on anything, too.
- Training and education. People want to do well. Ambition is a good thing to have and if your staff have a healthy level of ambition, they’re going to feel good about the role that they are doing in your business. Instead of worrying whether your team is enjoying their job, ASK them and then ask what they need to help them to do well with their goals. You can offer anything from GDPR training to extra qualifications paid for by your business. Training makes your employees better people and better qualified in their role, so it’s an excellent solution when you need happy staff.
- More money. Sure, perks are great, but some people really respond to cold, hard cash! Offering cash incentives that are straight to the hand of the person who gains that incentive is smart. The employees in your office then feel as if they have something to aim for, and when you give them something like that, they feel seen and heard.
- Counselling. It may have crossed your mind that you want to offer support in other ways and one of the best perks that you can offer your team is a counsellor on the books. Not only can they unload any issues and stress they’re having, it allows them to stay focused in their jobs because they have somewhere to go to vent when they need it. This level of support may be beyond your scope, and that’s okay because that’s what a paid counsellor is for!
- Peer recognition. People respond to praise and that’s a fact. Even if you’re not the type of employer to pat their people on the back and say “good job”, it doesn’t mean that your staff don’t need that from you. You can really gain some great insight into your staff when you allow them to recognise each other’s achievements. Holding employee monthly awards and things like that will help you and your staff to recognize each other’s achievements and make a big deal of them!
- Complementary food and drink. If you can offer free breakfasts/lunches and drinks in the office, you’re going to keep people energized throughout the day. Vending machines are nice, but free food is better. And don’t forget those water fountains. The one thing that you shouldn’t be is the type of employer who puts cone cups in place so people can’t have water at their desks. If you’re worried about spills, why not provide each employee with a branded sports bottle to refill? That’s a great way to advertise your business while providing a necessary lifeline.
- Employee discounts. If you’re a large company, give your staff a huge mark down on products and services. Hotel businesses can offer a percentage off the cost of a stay and you can even offer free parking instead of paid parking at the business premises.
- Extra time off. The golden egg of all employee perks is time off. Duvet Days and Mental Health Days are a great way to show your staff that they matter and that you want them to have the best possible time in your business. You should consider creating time off as something that people can earn on top of their existing vacation days. So, if someone wins a cash incentive, allow them to swap it for a day off!
Whatever will work best for your employees is the way to go and you should ensure that you are offering the perks that you know will work. The best way to ensure that this is the case for your business is to speak to your employees and ask them what will motivate them to get the job done well. Perks are a must for people who come to your business and work up to eight hours a day away from their families – you’ll see a marked improvement when you have them in place!